Henrik Fisker has raised over $1 billion for his electric car company. Unlike other electric vehicle entrepreneurs eyeing for capital, making cars is not part of his plan. As the industry is very much ready for reinvention, Fisker aims to become the Apple of the automotive world. Recently, the company reached a deal to go public by merging with a special purpose acquisition company backed by Apollo Global Management. The proceeds from the transaction will help the company to bring its Fisker Ocean electric SUV to market by late 2022.
Also Read: Electric Carmaker Fisker To Go Public Through SPAC Deal At $2.9 Billion Valuation
The Fisker Ocean has been positioned to become the world's most sustainable vehicle and it offers a range of 480 km
Speaking with Axios Fisker said, “We're on the cusp of a historic shift to electric, self-driving cars. But the burden of technology investments is overwhelming for many, requiring even the world's biggest auto giants to partner up on redundant development.” He further mentioned that new entrants such as Nikola, Rivian and Lucid Motors are mirroring Tesla and spending heavily on setting up their factories. But, none of them has produced a single vehicle yet.
Fisker's business model seems to be a key here, as the company will not be focusing on developing its powertrain or spending money on infrastructure. On the contrary, the company is currently in talks with Volkswagen to employ its modular EV platform. Moreover, the Fisker vehicles will be assembled at a VW plant in Europe.
Henrik Fisker, Head of Fisker Inc. says the funds will go into the development of the all-electric Fisker Ocean
Fisker Ocean is billed as the world's most sustainable car which will be an affordable yet a premium electric SUV with a solar roof and recycled materials. It will offer a battery range of 400 to 480 kms. The electric SUV will be priced attractively, which could get a starting price of $37,4999 before the federal tax credits. The Fisker Ocean SUV will also be available for monthly lease for just $379.
Also Read: Fisker Raises $50 Million Funding; Will Be Used For Development Of Ocean Electric SUV
Moreover, the carmaker will not be opting for a conventional way of selling cars. Instead of dealerships, Fisker will retail the cars online. However, it will have brand experience centres and pop-up locations in several key markets such as the US and Europe. Apart from this, vehicle service will be outsourced through Pivot, a unit of Cox Automotive. As a part of its strategic plan, the company aims to launch a full lineup of eight plug-in models by 2026.
